OLG Makes 4th-Quarter Payment to Cavan Monaghan

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Photo Karen Graham.
Progress continues at the new casino scheduled to open sometime this fall.

Ontario Lottery and Gaming Corporation issued a fourth-quarter (January to March, 2018) non-tax gaming revenue payment of $679,173 to the Township of Cavan Monaghan for hosting Shorelines Slots at Kawartha Downs. Since November 1999, Cavan Monaghan has received more than $58.4 million in non-tax gaming revenue.   This is the final scheduled payment under the original operating agreement with the township, which will be added to the asset replacement reserves as determined during the 2018 budget discussions in December.

“OLG provides host municipalities with significant revenues every year which help communities invest in local priorities and infrastructure projects important to them,” said Jeff Leal, MPP for Peterborough. “OLG provides funds that directly benefit vital public services like health care and education while contributing to enhancing the local economy.”

The benefit will soon shift closer to Leal should he hold on to his seat in the June election, as gaming operations move into the new casino location on Crawford Drive sometime this fall and Peterborough will begin to receive the gaming revenue.  Until then, the township will continue to collect quarterly payments along the same terms as the original agreement, which have been earmarked to help fund the construction cost over runs for the new Community Centre which came to light when the project tenders were received.  KG

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